Should I feel guilty?
 

I have flipped plenty of bikes in the last year or so. Normally I buy them cheap, fix them up then sell for a profit. The proceeds goes into my bike fund so I can get more nice bikes. I recently picked up a mid 70s Centurion Super LeMans for $70. I bought it for the parts. It had rando bars, aero brake levers, barcon shifters, Campy Nuovo Record rear derailleur, Suntour Sprint front derailleur and and Suntour Sprint hubs with Araya 700c rims. I removed all of those components and replaced with parts I had laying around none of which were very high quality. The wheels were 27" and were mismatched. The frame had plenty of paint chips but was straight with no dings or dents. I sold it for $140. The guy I sold it to seemed fairly knowledgeable about bikes. Ever since I did this I have been feeling a little guilty. Should I?

No. Not at all. You and a buyer agreed on a price sao you are both happy. Before that, you and the original seller agreed on a price, so you guys are also both happy. Flipping is merely a mediation where you make both parties happy.

If you didn't misrepresent anything, then you shouldn't feel guilty, ESPECIALLY if he seemed knowledgeable.
You gave a price and he was willing to meet it.

Sounds as if you sold it in good working order. It's a solid bike and that's not a bad price for a good rider.

No you shouldn't you and the buyer did OK on the deal. Also to the best of my knowledge mid 70's Centurions never had the level of parts you described at first and very close to the parts you put on it.

As long as it was safe when sold, then no, I don't think you should feel guilty. Just like you shouldn't feel guilty when you buy something you know is way under valued. Granted, when I find a really under priced deal, I don't go trying to haggle it down further, I just pay the asking price. I should probably feel guilty for not trying to get the best price !

Joe

You should feel guilty about posting this thread. Otherwise, no.

;)

Was the buyer's name John by any chance?

No.

That's a fair price for a bike with a decent frame sporting mismatched quality parts.

There's some clown locally that responds to all my listings saying he thinks the decals don't quite look like the proper shade of grey, or the head badge looks silvery instead of gold (based on his sage knowledge combined with low res pics). Almost like he's holding court or something. Annoying when idiots insinuate that you're some sort of scammer, yet have no interest in actually seeing the bikes (all in their original condition). I don't sell an item for any more than what I'd be willing to pay. My current rule is that a bike I purchase to cull/flip must have a part I absolutely need, or I need to easily clear $200 on it - my finds are getting fewer and farther between.

I have taken stuff to the scrap yard, that I'm sure other local scammers would cobble together with duct tape and try to resell with all caps listings. I have to live with myself, so if I know a bike is good and the buyer checks it over and we agree to a price, all is well.

Anyhow, $140 is a decent price for both parties, it's a tough market this time of year. Picks up a little bit in early September, then pack the stuff away until May.

You Americans are priceless. One of your presidental candidates places millions in tax havens and equity swaps to avoid paying taxes - he sleeps like a baby. Meanwhile a Minnesota flipper worries that he swindeled some student out of 25 year old rims and handlebars!

Before I sold the bike I repacked the headset and hubs, trued the wheels, cleaned and polished the derailleurs and lubricated everything. I also put on new bar tape, brake hoods and shifter cables. It was shifting and riding quite nicely. In reality the components probably weren't too much worse than what was originally on it. Come to think of it I shouldn't feel guilty since I put a bit of work into it and it turned out pretty nice.

Go and sin no more...........say ten Our Father's and ten Hail Mary's,
and put five dollars in the poor box on your way out.

Exactly. You gave the guy a nicely serviced, reliable bike that will last him a good long time, for the price of a pair and a half of sneakers.

Add up the time you spent looking for the bike, retrieving the bike, stripping it down, cleaning bits, rebuilding it, posting the CL ad and meeting up with the buyer. Would you work for that wage in any other context?

You should feel guilty for having "stolen" the donor bike for $70. LOL

no guilt.

I flip them all the time- in an hour this will be it the hands of its new owner.

http://www.huuto.net/kohteet/nishiki...road/232163154

this bike was found at the dump in almost perfect condition.
my work-
new chain
new seat
some cables, cleaning and tuning.

my best score yet!!


with the money I will buy this!
http://kleinanzeigen.ebay.de/anzeige...moser/73995246

we must make ends meet and flipping bikes will support our hobby!

I think people may be a bit envious of others "finds" in some cases and others feel some frustration that another has his/her "grail" and disregards it as a "short term gain" to someone else.

I could see a collector getting frustrated under those conditions. my guess is when the trend cools off there will be nice bikes available.

I speak for one American
in saying I probably have
more in common with Europeans
and Skandanavians than I do
with the man
with the tax havens .

Let me guess, you told the buyer it was a PX10 so he voluntarily offered $1400, then you said no, just $140.

If I could have fooled myself into believing it was a PX10 I would have kept it.

Just don't look down while riding it, it can be nearly any bike you want it to be, hehe.,,,,BD

Good answer! (I hope you realize I could and perhaps should have added a :D to my previous note...)

Make that two.

(My parents are/were - one has passed away - Norwegian immigrants).

You can sleep well, at least you aren't using taxpayers money to buy bikes, spend more money fixing them up, and sell them at a loss.
Like the "other" candidate.

Feel no guilt. You have Karma to spare.